Labor Force Participation Dynamics in the Romanian Labor Market

We use micro data from the Romanian Labor Force Survey to analyze the effect of the restructuring process on the Romanian labor market. We identify the reallocation mechanisms at work in the Romanian labor market, and we analyze the way personal characteristics influence inviduals' ability to adjust to labor market transformations. Participation decisions made by individuals are modeled as Markov decision processes. The resulting multivariate probit models are estimated using Markov Chain Monte Carlo techniques.http://deepblue.lib.umich.edu/bitstream/2027.42/39866/3/wp481.pd

Labor Force Participation Dynamics in the Romanian Labor Market

We use micro data from the Romanian Labor Force Survey to analyze the effect of the restructuring process on the Romanian labor market. We identify the reallocation mechanisms at work in the Romanian labor market, and we analyze the way personal characteristics influence inviduals' ability to adjust to labor market transformations. Participation decisions made by individuals are modeled as Markov decision processes. The resulting multivariate probit models are estimated using Markov Chain Monte Carlo techniques.labor force participation, transition economy, Markov chain Monte Carlo

The Effect of Children on the Level of Labor Market Involvement of Married Women: What is the Role of Education?

We analyze the way women's education influences the effect of children on their level of labor market involvement. We propose an econometric model that accounts for the endogeneity of labor market and fertility decisions, for the heterogeneity of the effects of children and their correlation with the fertility decisions, and for the correlation of sequential labor market decisions. We estimate the model using panel data from NLSY79. Our results show that women with higher education work more before the birth of the first child, but children have larger negative effects on their level of labor market involvement. Differences across education levels are more pronounced with respect to full time employment than with respect to participation. Other things equal, higher wages reduce the effect of children on labor supply. Controlling for wages, women with higher education face larger negative effects of children on labor supply, which suggest they are characterized by a combination of higher marginal product of time spent in the production of child quality and higher marginal product of time relative to the marginal product of other inputs into the production of child quality.female labor supply, education, endogenous fertility decisions, heterogeneous children effects, multinomial probit model, Gibbs sampler

Comparative Analysis of Emerging Green Certificate Markets from a Computable General Equilibrium Perspective

Whether using market mechanisms to allocate green certificates in various countries is an optimal solution for stimulating green electricity production represents a question proposed by numerous recent comparative analyses, with opinions being split. Our paper proposes a differing perspective, employing modern computational economics techniques in order to study if general equilibrium is achievable, nationally and internationally, and how it compares with the non-market steady state. We analyse the field, determining exogenous and endogenous factors of influence that we cast into functional relationships via econometric estimation. Subsequently, we study four multi-period general equilibrium models, recursive and non-recursive, solving the latter ones via a Johansen/Euler method for simultaneous all-year computation. General equilibrium is shown to be achievable but dependent on country specific conditions, with optimality being relative in a globalised context. In closing, we present a case study focused on providing useful guidelines for future international marketing efforts in this domain.computational economics, general equilibrium, globalisation, multi-period model, optimising behaviour.

A Panel Data Analysis of Racial/Ethnic Differences in Married Women's Labor Supply

We study differences in life-cycle labor supply among white, black, and Hispanic women, focusing on the interaction between race/ethnicity, education, and fertility. We use panel data that capture women's labor market and fertility histories and an econometric model that accounts for the endogeneity of labor market and fertility decisions, the heterogeneity of the effects of children and their correlation with the fertility decisions, and the correlation of sequential labor market decisions. Our results show an intricate connection between race/ethnicity, education, and fertility as determinants of women's life-cycle labor supply. For all levels of education, white women have fewer children, have the first birth later in life, and space subsequent births more closely together. The level of labor market involvement before the first birth is highest for white women and lowest for Hispanic women, but children reverse the relationship between race/ethnicity and level of labor market involvement. The negative effects of children are largest for white women and smallest for Hispanic women, and as a result, among women with two children, black and Hispanic women work more than white women. Racial/ethnic differences in fertility decisions, pre-natal labor supply, and labor supply responsiveness to children decline with the level education. Educational differences contribute to the racial/ethnic differentials in labor supply. White women have the highest levels of education and Hispanic women have the lowest levels of education. Other things equal, women with higher education have fewer children, have the first birth later in life, space subsequent births more closely together, work more before the birth of the first child, but face larger negative effects of children on their level of labor market involvement.racial/ethnic differentials in female labor supply, education, endogenous fertility decisions, heterogeneous children effects, multinomial probit model, Gibbs sampler

The Effect of the Timing and Spacing of Births on the Level of Labor Market Involvement of Married Women

We use panel data from NLSY79 to analyze the effects of the timing and spacing of births on the labor supply of married women in a framework that accounts for the endogeneity of labor market and fertility decisions, the heterogeneity of the effects of children and their correlation with the fertility decisions, and the correlation of sequential labor market decisions. Our results show that timing and spacing of births are important determinants of the effect of children on women's labor supply. Delaying the first birth leads to higher levels of labor market involvement before the birth of the first child and reduces the negative effect of the first child on the level of labor market involvement. Having the second birth after a longer interval reduces the effect of the second child on participation but increases its effect on the probability of working full time, as more women, having returned to work, respond to the second birth by moving from full time to part time jobs. Individual heterogeneity plays an important role in the relationship between labor market and fertility decisions. Women who have fewer children have the first birth later in life and space subsequent births more closely together, work more before the birth of the first child, but face larger effects of children on their labor supply.timing and spacing of births, female labor supply, endogenous fertility decisions, heterogeneous children effects, multinomial probit model, Gibbs sampler

Expenditure-based Interarea Cost of Living Index

The main difficulty in comparing the cost-of-living among metropolitan areas is that, at this level, prices of most goods and services are not available. Even when the prices are available, constructing aggregate prices for groups of goods and services comparable across areas, is a difficult task. In this paper we attempt to construct a cost-of-living index for metropolitan areas, using only data on metropolitan-level expenditures. While our method circumvents the two problems mentioned above, it requires two assumptions regarding the level of utility attained across areas, and the effect of demand elasticity on the relationship priceexpenditure.Index; Cost of Living; metropolitan; macrolevel data

The EU’s Internal Frictions and their Consequences on the Eastern Neighbours

In the last couple of years, the EU’s foreign policy was mainly directed towards two regions: the Balkans and the Eastern neighborhood. However, the means and the ends of the EU’s approach were in a sharp contrast. While the Balkan countries witnessed a more straightforward and coherent path towards the EU, the Eastern neighborhood had a different experience. Aiming to avoid future cleavages, the EU developed in 2004 the European Neighborhood Policy. But following Romania and Bulgaria’ s accession in the EU, there was still the need for a more comprehensive approach toward the Eastern neighbourhood. Therefore, at the Polish and Swedish overture, the EU inaugurated the Eastern Partnership program which comprises of six ex-Soviet countries. However, the Vilnius Summit was not as effective as it was expected. Instead, it has failed to address the major issues on the agenda. Considering these aspects, this paper asserts that the EU’s gaps in its approach toward the Eastern neighbourhood where mainly determined by systemic incentives and constraints as polarity and ordering principle. After laying out the core arguments, the paper will further develop possible future dynamics concerning the fate of the EU Eastern neighbourhood in the aftermath of the Vilnius Summit

Joint Estimation of Sequential Labor Force Participation and Fertility Decisions Using Markov Chain Monte Carlo Techniques

In this paper we estimate the causal effect of children on the labor supply of women using panel data on women from the 1979 National Longitudinal Survey of Youth (NLSY79). We examine the effect of children both prior to and after birth as well as how the effect of children varies with the number of children. We also decompose the total effect of children into the direct and indirect components and separately examine the dynamics of these components. Sequential participation decisions for four levels of labor market involvement and fertility decisions are jointly modeled. We allow decisions to be correlated in a general fashion both across time and across choices. The estimation is performed using Markov chain Monte Carlo methods. We find that children have a strong effect on a women's labor market behavior in the post-birth period and that differences in expected fertility have a strang effect on labor market behavior in the pre-birth period. We also find that both the direct and indirect effects are large immediately after the birth of a child but that the indirect effect declines quickly over time. The effects of children vary by education and race

Aspecte politice ale pontificatului lui Pius al IX-lea

Acest articol va apela la un cadru cronologic, o desfășurare istorică a evenimentelor pe plan politic ce au avut loc în timpul pontificatului lui Pius al IX-lea, dar și impactul lor asupra societății italiene și a celei europene și modificările teritoriale din acest răstimp. Primul subcapitol va reda primii ani de pontificat ai lui Pius. Al doilea subcapitol va trata perioada începută la Gaeta, în exil, și până la unificarea Italiei, în 1861, an în care Statele Papale își pierd aproape întreg teritoriul, cu excepția Latiumului și a Cetății Eterne. Subcapitolul cu numărul trei va trata problemele pontificatului lui Pius al IX-lea în deceniul șapte al secolului, ani în care Italia unificată face presiuni continue pentru a ocupa Roma și a o declara capitala Regatului italian. Ultima parte a primului capitol reprezintă o scurta analiză a ultimei confruntări purtate de Pius al IX-lea: duelul cu cancelarul german Bismarck, promotorul unei politici anticlericale foarte dure pe care va fi silit s-o abandoneze după moartea lui Pius